Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1887-02-12
TO POLICY HOLDERS.

Otto ise ttp,n beneficial to all OF
orr policy holders. 1t places the
ass9ciation ut once on solid ground
and nj lieves each member of all anx
ietv as1o cost of his insurance and
The time when payments must be
ma1e The action viii give increas-
cd confidence in the company. For
the better understanding Of our read
err Wa sutjan the preamble and
resolutions adopted, as follows
"wHERgAs, Article Y, Section /,
Of our bylaws makes it the duty of
TIE Board Of Directors of the Asso.
ciati0n TO fix the amount and rate
Of fees dues and assessments, and
"WHERBAs, The Association is APP
provimating an age when the full
death rate must be expected as indi-
Gated hy American Experience Ia
bic of Mortality and
WHEREAS. By calling an assess
ment when only required by the
condition of the death fund there is
Frequently unavoidable delay in max
ing navment of death claims, often
causing much inconvenience to
friends Of the deceased, and
WHEREAS, sum of money, not
less than full amount of maximum
nolicv written, should at all times
be in the death fund, so that in case
of emergency the largest claim could
be pald Immediately on presentation
of satisfactory proofs of death at
the home Office, and
"WaGRGAs. Through an excessive
mortality, which muy occur, and at
times does occur to any association,
however careful in the selection of
IN; mi.crs, it may possibly become
necessary TO prorate assessments to
fully meet demands upon the death
fund. or else defer payment of some
claims beyond time allowed by terms
of contract. and
WHEREAS, The only method where
By equity can be established between
old and new members is either by
rates that increase with the increas
ing age of members, sufficient to
cover full insurance liability, or by
level rates, fixed at age of entry, made
regularly at stated times, with con-
tingent reserve sufficient to meet the
increasing death cost occasioned by
the advancing age OF members. and
"WHEREAs, The association wishes
to make full payment of all endow-
meut policies promptly at expiration
of time. as well as full and prompt
payment of all death-claims, and
"WHERAs, All these obligations can
be met only by making regular assess
ments ut stated times, SO as to make
each policy contract worth 100 cents
on the dollar, at time of maturity,
Without delay or extra assessment,
and
'sWHEREAs, Our present assessment
rate on andowment and ordinary life
policies ie deemed amply sufficient to
enable the association to fulfill all its
obligations by making twelve assess
meut calls yer year, therefore
"Resolced, That on and after Feb
ruary LIST, 1887, one single assessment
per month be made on all our policy
holders, which shall be due and pay
able at the home Office or placed in
the hands of an authorized local
treasurer. on or before the last week
day IL each calender month of each
year, unless otherwise ordered
through notices forwarded.
"ResoiUed, That the Secretary OF
the Association be required to send
out notices as heretofore, 80 days be-
fore the same are due, except that
names of deceased, witnesses to same,
cause of death, amount of insurance
paid, and other information neces-
sary, be furnished members with first
eusuilg assessment call.
"Resoloed, That after providing
for contingent reserve and endow-
ment fund, and payment in full OF